—Hugh Leask
Two new collateralized loan obligation have hit the European market. Blackstone Group is making the rounds with a €400 million ($582.1 million) offering and Lehman Brothers is marketing a €352 million ($512 million) deal.
The St. James’s Park CDO is Blackstone’s fourth European leveraged loan transaction, and it boasts an A1 coupon of 3 month Euribor plus 45 basis points. Further detail on the transaction could not be gleaned as officials at the firm did not return calls.
Meanwhile, Lehman Brothers Asset Management set sail with Lightpoint 2007-1, a pan-European CLO with Lehman also acting as lead manager on the transaction. The €259 AAA-rated A-tranche was preplaced. Officials at the firm in London declined further comment.